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Review of Short Phrases and Links |
This Review contains major "Monthly Premium"- related terms, short phrases and links grouped together in the form of Encyclopedia article.
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Definitions  
- A monthly premium is then added to the mortgage payment.
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- If you were not charged an upfront premium, as for example on condominiums, you will pay the monthly premium for the life of the mortgage.
- Generally the higher the loan-to-value the higher the monthly premium.
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- The MMI or Mutual (sometimes called Monthly) Mortgage Insurance is your monthly premium which is included in your payment.
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- The FHA has an upfront mortgage insurance premium of 1.5 percent of the loan, and a monthly premium of 0.5 percent.
- The lower the down payment, the higher the risk for the lender, and thus the higher the monthly premium.
- A monthly premium amount will be collected with every monthly payment thereafter.
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- Then, from that point on, you have to pay a monthly premium included in your mortgage payment, just like with your taxes and insurance.
- A monthly premium is then added to the mortgage payment.
(Web site)
Monthly Premium 
- MIP: Mortgage Insurance Premium A monthly premium paid by the homeowner in addition to the Up Front MIP that is generally financed.
- The amount of the up-front and monthly premium varies with the term of the loan and the loan-to-value ratio.
- This insurance protects the lender in case of loan default, and usually involves an up-front payment at closing, as well as a monthly premium.
Categories
- Upfront Mortgage Insurance Premium
- Loan-To-Value Ratio
- Mortgage Payment
- Loan Default
- Monthly Payment
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